US economic growth 'modest to moderate': Fed Beige Book

The US economy is growing at a “modest to moderate” pace, with the jobs market continuing to strengthen, wages rising and consumer spending up moderately, a Federal Reserve report showed Wednesday. Ten of the 12 Fed districts surveyed reported economic growth between late February and early April, the Fed’s Beige Book said. “Most Districts said that economic growth was in the modest to moderate range and that contacts expected growth would remain in that range going forward,” the report said.